Binance Confirms Global Law Enforcement Cooperation Amid Scrutiny
Binance has confirmed that it cooperates with law enforcement agencies around the world through lawful and structured processes. This comes after a Reuters investigation revealed that the exchange had handed over identity and transaction records to Russian investigators in a terrorism financing case.
The records included information such as home address, telephone number, date of birth, passport details, and Bulgarian residency permit of Yuri Belenkiy, an IT specialist accused of sending cryptocurrency to Ukraine-linked groups. Binance stated that it only answers law enforcement requests when they are lawful and subject to legal, privacy, and regulatory requirements in the relevant jurisdiction.
The company's compliance standard is consistent worldwide, according to Richard Teng, and 'on par with the highest compliance practices of global financial institutions.' However, an unresolved question remains over whether EU privacy rules under GDPR should have applied to the disclosure, as Belenkiy holds a Bulgarian residency permit.